EchoStar Corporation (NASDAQ:SATS) surged by 30.94% after SpaceX announced plans for a billion-dollar IPO, boosting investor confidence. Bloomberg reports a potential IPO valuation of $1.5 trillion in June, offering potential benefits for EchoStar, which holds $11.1 billion in SpaceX stock. EchoStar also received a price target increase and rating upgrade from Morgan Stanley. An investment firm sees further potential for EchoStar amidst increased competition in US wireless carriers. While EchoStar shows promise, some AI stocks may offer higher returns and lower risk. Visit the Insider Monkey website for more stock recommendations.

Read more at Yahoo Finance: EchoStar (SATS) Rockets 30.9% on SpaceX IPO, Bullish Coverage